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Self Managed Super Funds or SMSF

Thinking about self-managed super?

You should consider all your super options before making a decision about managing your own super fund.  Palmers Chartered Accountants can advise you on what an SMSF is and how to set up an SMSF including advice on the costs of establishment as well as the ongoing administration costs. We can also assist you to run your fund and manage all compliance obligations.

Professional Advice

As licensed financial advisors, we will consider your personal situation and only recommend a self-managed fund if it is suitable for you. As tax agents and accountants, we can help you set up an SMSF, manage the bookkeeping and accounting, and ensure that it complies with existing legislative requirements.

What’s involved?

The Palmers Superannuation Team is able to assist you with the entire process from setting up, administrating and managing your SMSF. Our services include reviewing your extended financial situation, to give you the best results possible.
There are several trust laws and legislative requirements for setting up a self-managed superannuation fund (SMSF).

Typically you need to consider the following:

Establishment of the fund:
•    Obtain a trust deed
•    Appoint trustees
•    Sign a trustee declaration
•    Elect to become a regulated fund with the ATO
•    Obtain a tax file number (TFN)
•    Obtain an Australian business number (ABN)

Administration:
•    Preparation of annual financial accounts
•    Preparation of member information statements & investments summary reports
•    Preparation and lodgement of Tax returns
•    Preparation of all necessary trustee minutes
•    Facilitation of annual audit by independent auditors
•    Preparation of documentation for Actuarial Certificate (if required)

Advice

Specialist SMSF advise is always available in our office. Including specific strategies such as Limited Recourse borrowing or tax effective Transition to Retirement income streams.

Schedule a meeting with us to know more about setting up your own self managed super fund by clicking here.